HCL Technologies

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HCL Technologies Ltd.
Public
Traded as BSE532281
NSEHCLTECH
Industry IT services, IT consulting
Founded November 12, 1991; 23 years ago (1991-11-12)[1]
Founder Shiv Nadar, Arjun Malhotra
Headquarters Noida, Uttar Pradesh, India
Area served
Worldwide
Key people
Shiv Nadar (Chairman & CSO)[1]
Anant Gupta (President & CEO)[2]
Services Software, Infrastructure and Outsourcing[3]
Revenue Increase US$ 5.952 billion (FY'15)[4]
Increase US$ 1.324 billion (FY'15)[4]
Profit Increase US$ 1.164 billion (FY'15)[4]
Number of employees
106,107 (30 June 2015)[5]
Slogan Relationship Beyond the Contract.[6]
Website HCLTech.com

HCL Technologies Limited is a global IT services company, headquartered in Noida, Uttar Pradesh, India. Originally the research and development division of HCL Limited, it emerged as an independent company in 1991 when HCL Limited ventured into the software services business.[7] HCL Technologies offers services including IT consulting, enterprise transformation, remote infrastructure management, engineering and R&D, and business process outsourcing (BPO).[8]

The company has offices in 31 countries, and operates across a number of industry verticals including aerospace and defense, automotive, consumer electronics, energy and utilities, financial services, government, independent software vendors, industrial manufacturing, life sciences and healthcare, media and entertainment, mining and natural resources, oil and gas, public services, retail and consumer, semiconductor, server and storage, telecom, and travel, transportation, logistics and hospitality.[9][10]

HCL Technologies is on the Forbes Global 2000 list and is one of Asia’s Fab 50 Companies.[11][12] It is among the top 20 largest publically traded companies in India and had a market capitalization of $22.1 billion as of May, 2015.[13] HCL Technologies, along with its subsidiaries, had consolidated revenues of $6.0 billion as of August 2015.[4]

History[edit]

Formation and early years[edit]

HCL Technologies is one of the four companies under HCL Corporation, the second company being HCL Infosystems. In February, 2014 HCL forayed into healthcare with the launch of a new venture, HCL Healthcare.[14] HCL TalentCare is the fourth and newest venture of HCL Corporation.[15]

HCL Technologies began as the R&D Division of HCL Enterprise,[16] a company which was a major contributor in the development and growth of the IT and computer industry in India. HCL Enterprise delivered several firsts – an indigenous microcomputer in 1978,[17] a Relational Database Management System (RDBMS), a networking OS and a client-server architecture in 1983,[18] and a fine-grained multiprocessor UNIX installation in 1989. On 12 November 1991, HCL Technologies was spun off as a separate unit to mark the company’s arrival in the software services arena.

HCL Technologies was originally incorporated as HCL Overseas Limited.[19] The name was changed to HCL Consulting Limited on 14 July 1994.[20] On 6 October 1999, the company was renamed as ‘HCL Technologies Limited’ for a better reflection of its activities.[19]

The period between 1991 and 1999 saw the company expand its software development capacities, building one of the largest set-ups in India. It was also around this time that the company spread its operations to the US, European and APAC markets.[19]

IPO and subsequent expansion[edit]

Following the rebranding as ‘HCL Technologies Limited’, the company went public on 10 November 1999, with an issue of 14.2 million shares, valued at ₹4 each.[21] During 2000, the company set up a dedicated offshore development center in Chennai, India, for KLA-Tencor Corporation.[21] In 2002, it acquired Gulf Computers Inc., USA, as a part of its expansion drive.[21]

Acquisitions[edit]

Number Acquisition date Company Business Country References
1 February 20, 2008 Capital Stream Inc. Automation solutions  USA [22]
2 July 16, 2008 Liberata Financial Service Business process outsourcing  UK [23]
3 August 25, 2008 Control Point Solutions, Inc. Telecom solutions  USA [24]
4 December 15, 2008 Axon Group Plc. SAP Consulting  UK [25]
5 July 16, 2009 UCS Group’s Enterprise Solutions SAP Practice SAP  SA [26]

Operations[edit]

A world-map showing the countries where HCL Technologies has operations.

The company operates in 31 countries across the globe,[27] including its headquarters in Noida, Uttar Pradesh, India. In the APAC and EMEA, it has establishments in Australia, China, Hong Kong, India, Indonesia, Israel, Japan, Malaysia, New Zealand, Saudi Arabia, Singapore, South Africa, UAE and Qatar. In Europe, it covers Belgium, Czech Republic, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Sweden, Switzerland and the UK. In the Americas, the company has offices in Brazil, Mexico, Puerto Rico and the USA.

Business lines[edit]

  1. Applications Services: This division delivers integrated transformation services for the applications portfolio of companies. Its technical expertise is organized around 12 horizontal capabilities and draws upon domain expertise in consumer, manufacturing, life sciences, healthcare, public, and financial services domains.[28] The division has strategic alliances with leading technology solution providers, and undertakes continuous R&D efforts to unlock newer innovations.
  2. Business Services: The division provides Next-Gen BPO services across industries. It consists of a team of 14,000 professionals, operating out of state-of-the-art delivery centers spread across India, USA, Europe, Ireland, UK, Latin America and the Philippines.[29] The company uses its integrated global delivery model to ensure seamless operations across geographies.[30] It has also launched EFaaS[31] (Enterprise Functions as a Service), aimed at transforming enterprise functions while driving significant savings on the total cost of operations.
  3. Engineering and R&D Services (ERS): This division is focused on providing comprehensive engineering and R&D services and solutions in hardware and software product engineering across industry verticals.[32] ERS is the largest engineering services provider in India and is responsible for driving Thought Leadership initiatives, and targets areas like Internet of Things (IoT),[33] Big Data Analytics, Social Media, Digitalization and Product Intelligence.
  4. Infrastructure Management Services (IMS): This division manages mission-critical IT environments and addresses the IT infrastructure requirements of an enterprise. It implements the Enterprise of the Future (EOF) framework to enable companies’ transition from legacy technologies and operating models to digital-ready, agile enterprise technology infrastructure. This reduces Total Cost of Ownership (TCO) across seven strategic axes of transformation. Other key offerings by the group include: Next Gen Workplace Services, Next Gen Network Services, Information Security and GRC Services, Enterprise Platform Services, Business Service Management, Service Integration Management, Integrated Operations Services across Enterprise and Digital, and Technology Transformation Services.

Partnerships and alliances[edit]

HCL's ecosystem consists of close to 100 companies in various technology areas with which they have formed go-to-market alliances, specialist partnerships for niche technologies, and teaming partnerships for specific customers.

Corporate social responsibility[edit]

Community initiatives[edit]

Power of One[edit]

Power of One[34] is an employee-driven, management supported initiative that focuses on transforming social projects and activities. An extension of the RBtC™ philosophy, the initiative has garnered active contribution from the employees for efforts that materially affect the society around them.[35] As a part of this initiative, the company has undertaken:

  • Project Samudhay, which involves adopting 100 villages and driving transformation in five areas — water, women's welfare, education, health and malnutrition, and sanitation.[36]
  • Association with Udayan Ghar and over 55 other NGOs, to promote all-round community development and growth.[37]

Additionally, since 2006, the company has been conducting a series of monthly and biennial concerts to provide a platform for upcoming young Indian classical artists to showcase their talent.[38]

Environment initiatives[edit]

Go Green[edit]

HCL runs a multi-layered program Go Green, as a part of its continued sustainability initiatives.[39] This covers green processes across facilities, and in the areas of travel, IT and events. The company has designed and developed a comprehensive GreenEdge sustainability framework to address challenges specific to the needs of manufacturing industries.[40] The company conducts regular campaigns to inculcate understanding and sensitivity towards environmental issues, with a focus on promoting and initiating individual corrective actions. In addition, it is also:

Awards and recognition[edit]

Awards[edit]

  • 2015: HCL Technologies won the Aecus Innovation Award for implementing an operational control center for Unilever.[48]
  • 2015: The company won the prestigious Globetrotters Award at the Exhange4media - Pitch Top 50 Brands.[49][50]
  • 2014: The company was recognized as the Best governed company by the Asian Centre for Corporate Governance & Sustainability.[51]
  • 2014: HCL Technologies was named as the Outstanding Company of the Year at CNBC-TV18’s India Business Leader Award.[52]
  • 2014: The company won The HR Excellence Award for Most innovative deployment of HR technology.[53]

Recognition[edit]

See also[edit]

References[edit]

  1. ^ a b "Fast Facts". HCL Technologies. Retrieved 24 July 2015. 
  2. ^ "HCL Technologies appoints Anant Gupta as CEO; Vineet Nayar to continue as Vice Chairman". The Economic Times. Retrieved 28 August 2015. 
  3. ^ "HCL Technologies Fast Facts". HCL Technologies. Retrieved 28 August 2015. 
  4. ^ a b c d "HCL Technologies Financial Statements". HCL Technologies. 3 August 2015. Retrieved 3 August 2015. 
  5. ^ "HCL Technologies Fast Facts". HCL Technologies. 3 August 2015. Retrieved 3 August 2015. 
  6. ^ "Relationship beyond the Contract". HCL Technologies. Retrieved 24 July 2015. 
  7. ^ "Company History - HCL Technologies Ltd.". The Economic Times. Retrieved 28 August 2015. 
  8. ^ "HCL to take care of US energy firm customers". Business Standard. 4 September 2013. 
  9. ^ "HCL Technologies Ltd.". NDTV Profit. Retrieved 28 August 2015. 
  10. ^ Building a Reservoir of Strategic Competencies That Will Develop and Engage Leaders for the Future (PDF) (Report). 
  11. ^ "The World's Biggest Public Companies". Forbes. May 2013. 
  12. ^ "Asia's Fab 50 Companies". Forbes. August 2013. 
  13. ^ "Top 100 Companies by Market Capitalization BSE". BSE. Retrieved 15 February 2015. 
  14. ^ "HCL enters healthcare business with Rs 1,000 crore". The Times of India. 7 February 2014. Retrieved 28 August 2015. 
  15. ^ "HCL launches TalentCare to bridge supply gap in IT, Healthcare, Banking". The Economic Times. 15 May 2015. Retrieved 29 August 2015. 
  16. ^ "Heritage & Legacy". HCL. Retrieved 28 August 2015. 
  17. ^ "About HCL Enterprise". HCL Technologies. Retrieved 28 August 2015. 
  18. ^ "Milestones". HCL. Retrieved 28 August 2015. 
  19. ^ a b c "Company History - HCL Technologies Ltd.". The Economic Times. Retrieved 28 August 2015. 
  20. ^ "Company History - HCL Technologies Ltd.". The Economic Times. Retrieved 28 August 2015. 
  21. ^ a b c "Company History - HCL Technologies Ltd.". The Economic Times. Retrieved 28 August 2015. 
  22. ^ "HCL acquires Capital Stream for $40 million". The Economic Times. 21 February 2008. Retrieved 28 August 2015. 
  23. ^ "HCL Tech to acquire Liberata Financial Services". Business Standard. 16 July 2008. Retrieved 28 August 2015. 
  24. ^ "HCL Tech buys US based Control Point". The Times of India. 25 August 2015. Retrieved 28 August 2015. 
  25. ^ "HCL Technologies Completes Acquisition of AXON Group plc". Bloomberg. 15 December 2008. Retrieved 28 August 2015. 
  26. ^ "HCL Tech Division Buys UCS Group's SAP Operations". The Wall Street Journal. 17 July 2009. Retrieved 28 August 2015. 
  27. ^ "HCL Technologies Wins Five-Year IT Managed Services Contract With SAI Global". CSO. Retrieved 28 August 2015. 
  28. ^ "HCL Tech bets big on apps business for growth". The Hindu Business Line. 4 January 2015. Retrieved 28 August 2015. 
  29. ^ "We continue to strive for a margin range of 21-22 per cent: Anil Chanana, CFO, HCL Technologies". The Economic Times. 3 August 2015. Retrieved 28 August 2015. 
  30. ^ "HCL Tech: a firm whose business fundamentals are still strong". The Hindu Business Line. 11 January 2015. Retrieved 28 August 2015. 
  31. ^ "HCL Technologies Q3 profit jumps 73 pc, beats estimates". The Economic Times. 17 April 2013. Retrieved 28 August 2015. 
  32. ^ "HCL Tech extends lead over its peers in engg, R&D services". The Hindu Business Line. 20 March 2012. Retrieved 28 August 2015. 
  33. ^ "HCL partners Tele2 to tap IoT opportunities". The Times of India. 28 August 2015. Retrieved 28 August 2015. 
  34. ^ "Power of One". 
  35. ^ http://www.hcltech.com/energizing.  Missing or empty |title= (help)
  36. ^ "Project Samudhay: HCL to transform 100 villages with scalable models in health, sanitation". The Economic Times. 5 September 2014. Retrieved 31 August 2015. 
  37. ^ Udayan Care Sunrise http://udayancare.org/udyan_newsleeter/vol23/vol23more.htm. Retrieved 31 August 2015.  Missing or empty |title= (help)
  38. ^ "Sangita Kalanidhi award conferred on Madurai T.N. Seshagopalan". The Hindu. 16 December 2006. 
  39. ^ "HCL - The GO GREEN Initiative". Swasti Shipra. 
  40. ^ "HCL - The GO GREEN Initiative". Swasti Shipra. 
  41. ^ "GreenEdge Sustainability for Manufacturing-An HCL Point of View". 
  42. ^ "HCL Infosystems (HCL) is included in the global release of the 18th edition of the Greenpeace Guide to Greener Electronics for the first time, having only been included in Indian editions previously. With a score of 3.1, HCL shares 13th position with Sharp." (PDF). Green Peace. 
  43. ^ "Producer Responsibility for Electronic Waste is an important issue, says HCL". Sustainability Outlook. 28 May 2012. Retrieved 31 August 2015. 
  44. ^ "HCL Infosystems starts 'Green Bag' campaign". The Economic Times. 5 June 2009. Retrieved 31 August 2015. 
  45. ^ "HCL spreads awareness on safe disposal of e-waste". CXO Today. CXO Today. 21 May 2010. Retrieved 31 August 2015. 
  46. ^ "HCL unveils Green Datacenter Services". Money Control. Retrieved 31 August 2015. 
  47. ^ "HCL WEF". 
  48. ^ "2015 Aecus Innovation Awards". Aecus. Retrieved 1 September 2015. 
  49. ^ "Winner List". Pitch Brands 50. 
  50. ^ "OLX, TCS, Asian Paints, HCL and Parle Products: Winners speak on Pitch Top 50 Brands - See more at: http://www.exchange4media.com/marketing/olx-tcs-asian-paints-hcl-and-parle-productswinners-speak-on-pitch-top-50-brands_61250.html#sthash.IexQnuqq.dpuf". Exchange4media. 
  51. ^ "HCL Technologies receives Best Governed Company Award by Asian Centre for Corporate Governance & Sustainability". The Hindu Business Line. 8 January 2014. Retrieved 1 September 2015. 
  52. ^ "HCL Tech - HCL wins CNBC-TV18's India Business Leader Award for Outstanding Company of the Year". CNBC TV18. 14 January 2014. Retrieved 1 September 2015. 
  53. ^ "Winners 2014". HR Excellence Awards. Retrieved 1 September 2015. 
  54. ^ "The World's Most Influential Companies". Bloomberg Business. Retrieved 1 September 2015. 
  55. ^ "Aceanalyser" (PDF). Retrieved 1 September 2015. 
  56. ^ "Outlook for Outsourcing Spending Brightens". The Wall Street Journal. 28 May 2009. 
  57. ^ "The Black Book of Outsourcing Places HCL At No.1". EFY Times. 
  58. ^ "The WorldBlu List of Most Democratic Workplaces™". WorldBlu. 
  59. ^ Nayar, Vineet. Employees First, Customers Second: Turning Conventional Management Upside Down. 
  60. ^ Darwin, Solomon (31 July 2015). HCL's Digital Open Innovation: Enhancing Business Model Effectiveness through Talent and Customer Acquisition, Development, and Retention. 
  61. ^ "The HCL Way". Wiley Online Library. 
  62. ^ "How Shiv Nadar learned to let HCL Grow Up". Forbes India. 2 November 2009. Retrieved 1 September 2015. 
  63. ^ "Infor and HCL Technologies Enter Strategic Partnership. Bloomberg Business" (PDF). Brand Finance. 

External links[edit]